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LONG BEACH, CA-Santa Barbara Pacifica Real Estate Group bought the six-story, 100,146-sf Downtown Plaza in downtown Long Beach for $13 million from the Archon Group, which sold it on behalf of WMP IV Real Estate Limited Partnership.

A Cushman & Wakefield team that brokered the sale says the buyer is a private real estate investment and management company with a portfolio of primarily Central and Southern California properties valued in excess of several hundred million dollars. In April of this year Pacifica acquired two business parks totaling 129,000 sf in nearby Lakewood, Calif., for $12.3 million.

Downtown Plaza is at 211 E. Ocean Blvd., just north of the city’s popular Shoreline Village. It is 93% occupied and includes tenants The Designory, Barrister Executive Suites, and the City of Long Beach.

Archon is a commercial real estate investment management and mortgage loan company managing investments totaling more than $15 billion in North America, Asia and Europe.

The Cushman & Wakefield brokerage team included Ryan Smith, Stephen Somer, Jon Nesbitt and Robert Alperin.

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